UK house prices rise 2.7pc in June

UK house prices jumped 2.7% in June, according to the Office for National Statistics, unchanged from the prior month's revised estimate.

Average house prices for the 12 months ended 30 June came to £288,000, up £8,000 year-on-year, while house prices rose 2.4% to £305,000 in England, 1.8% to £216,000 in Wales, 4.3% to £192,000 in Scotland and 6.4% to £185,000 in Northern Ireland.

Elsewhere, average private rents increased by 8.6% in the 12 months to July, according to a provisional estimate, unchanged from the 12 months to June. Average rents increased to £1,319 in England, £748 in Wales, and £965 in Scotland. In Northern Ireland, average rents increased by 10.0% in the 12 months to May.

Reporting by Iain Gilbert at Sharecast.com